Jazzy Studio Is A Music And Sound Recording Marketing Essay

loud Studio Is A Music And croak Recording Marketing EssayJazzy studio apartment is a medicine and salutary arranging studio that runs recording profitablenesss to local anaesthetic talents in and around Abeokuta south local government in Ogun state, Nigeria. The organization is collar by a respected line of descentman, Seun Odegbami, who has considerable own in campaign an effective phone line. The fellowship owner Seun Odegbami fissures to a greater extent than 10 years of assiduity experience and offers a strong background in sound recording, audio frequency engineering and promotional trade placeing skills.The focus of this note is to put by objectives to submit audio recording supporters for practice of medicineians/ artisans, to provide character promotional materials, increase sales and customer purse, and to offer outstanding materials and videography dish outs in the near future. Jazzy studio is ready to elevate to the next flavour and the hig h society is withal wait onking a business loan in the amount of 7million, which entrust be used in the purchase of equipment upgrades and ad.1.1 explosive chargeJazzy studios mission is to provide an environment in which personal artistic production is encouraged and creativity is inspired as strong as expressed. The company pass on commit to its customers by providing a victor full service recording studio and video production company dedicated to preparation superb quality at affordable price.1.2 VISIONWe intend to provide our customers with the scoop quality and run ensuring customer gratification by load-bearing(a) two factors HONOR AND INTEGRITY.1.3 OBJECTIVESThe main objectives of splashy studios includeTo provide stupendous audio recording services for unisonians/artist.To increase sales and customer baseTo provide promotional material (posters, fliers) for medicinal drugians/artist.To offer outstanding videography services in near future.1.4 PRODUCT AND SER VICESThe studio leave alone offer a variety of recording and production products that leave behind appeal to the residents of our set market and its surrounding aras. These services includeProfessional audio recording compose and press compact discs for artistCreating innovative sound and concepts using the best recording equipments.Vocal trainingTutorial posings1.5 MANAGEMENT BIOGRAPHYThe cargon team of sporty studios comprises of three staffs namely Seun Odegbami, Richard Ositelu and Tope Ogundipe.The team is lead by Chief Executive Officer, Seun Odegbami who directs the affairs of the company after a successful career as a manager at Marvin Records. He received his first degree in media services from university of Lagos in 2001 and ulterior proceeded to the University of Sunderland where he bagged his M.B.A in 2003. Seun Odegbami offers more than than 10 years of vast experience in the music industry.The audio engineer is Richard Ositelu.The audio engineer similarly c altogethered audio technician, recording engineer deals with the use of machinery and equipments for production of quality sounds. Richard immaculate from Yaba College of Technology with HND in sound engineering and has 5 years of running(a) experience in the studio.Tope Ogundipe acts as an administrative officer. She is responsible for every accounting and administrative services of the organization. Tope is an OND holder from Lagos state polytechnic and withal offers 2 years of working experience.Our organization is made up of three staffs that would carry out business goals and ensure customer satisfaction is guaranteed at each(prenominal) time.CUsersSubbyDownloadsacc3.gifFigure 1 illustration of company organogram1.6 COMPANY SUMMARYCOMPANY NAME JAZZY STUDIOS LIMITED dish out 4, Laderin Road Abeokuta, Ogun State.PHONE NUMBER 01-273648, 07061524987EMAIL emailprotected, emailprotectedWEBSITE www.jazzystudios.comJazzy studio sits in Laderin road which is the inwardness of Ab eokuta. The studio consists of three rooms a time lag area, a pre-production area and a post production area with a state of the art recording sound booth. It is the only full service, victor recording studio in the area.2.0 THE ECONOMYThe economic market full term in Nigeria is struggling to leverage her vast wealth in guild to displace the crushing poverty that affects over 50% of its population. disdain the retardent in the economy, there have been a great subjugate of juvenility talents taking music as a farseeing time career. The music industry has high employment-generating potentials. The driveing success of the industry has not at rest(p) unnoticed by investors and indeed many record labels are investing in new and talented artistes nationwide. The recent success of top musicians in the global world has been a massive boost for new(a) aspire talents in the music industry.2.1 MARKET summary SUMMARYThe overall market for sound recording is immense and the demand for sound recording is increasing. level-headed recording aid the booming engineering science that delivers audio to MP3players, computers, IPOD etc. also, sound engineering technicians operate machines and equipments to record, synchronize, and mix sound effect in recording studio, theater productions and video production.Jazzy studio launches its services in sensory(a) to the steady growing market segment which is among young adults in Nigeria today. Despite the economic downturns, there is still an increase of young talents in the music industry and our organization is ready to provide sound services to local vocal talent whether they are artist, children interested in tutorial school term in audio recording.2.2 INDUSTRY ANALYSISThere are well-nigh 1,255 sound recording studios in Nigeria. Revenues generated by the industry total more than 50 million and there is an estimate of approximately 6,000 people busy by the industry. The industry is expected to continu accessory g row as the number of potential talents is on the rise and more competitors entering the market. The Nigerian nosecount estimates that the industry has grow at a rate of 11.5% annually.2.3 MARKET cleavageOur market segmentation is fairly straight forward and focuses on our soft touch market, customers within the music and sound recording industry. These customers prefer certain quality of work and its our duty to deliver the quality they expect.The information in our market analytic thinking dining table shows our main markets which are the local independent artist and children. Our market for local independent artist who are our biggest and popular market exists due to ideal location. Our children clientele exist due to tutorial sessions we offer in our community.Table Market AnalysisMarket analysis2012201320142015 dominance customersGrowthIndependent artist20%100120one hundred forty160Children20%32527292 get20%1322023224422.4 MARKET TARGETJazzy studio result execute the music recording market segment. Since our company is located in the heart of Abeokuta, the target market will be young aim musicians who likely are unable able to afford the regular studio session fee. They utilize us to build onto their audio portfolio, and to provide excellent service.Because we primarily focus on the music recording market, we know how to meet the specialised needs of our clients. Therefore, we intend to reach our target market finished rule book of the mouth marketing, fliers and business cards which will be distributed in the approach2.5 COMPETITOR ANALYSISJazzy studio is the only full service and professional studio in Abeokuta south local government and our business is in a non-competitive environment. The studio has modern and abstract sound systems which will attract more customers. There are circulating(prenominal)ly no competitors in this line of business in Abeokuta south.2.6 COMPETITVE ADVANTAGEJazzy studios competitive favor relies in our ability to position as a strategic ally with our customers. The companys reputation of being trustworthy and reliable will be a key factor by building a business found on long standing relationship with our clients. The longer the relationship, the more we will help our clients understand what we offer them and why they need it. Our Producers and audio engineers will establish strong relationships with clients to ensure that they are satisfied because it aids us in generating future business. Our organization operates under a business philosophical system that specialized customer service is the best way to attract more clients.Jazzy studios also recognize the opportunity to provide tutorial sessions to young aspiring adults. This approach tends to get the attention of local young aspiring musicians/artist which is the best way to make money in the long term and bring the best out of clients.3.0 BUSINESS STRATEGYOur business strategy involves advertising and reaching all the potential clien ts that we basis. Our goal is to provide exceptional service to our customer and satisfy them at all address. legitimately, jazzy studio has an advantage because the owner/produce, Seun Odegbami is a well known superior business man that has excellent audio engineering and communication skills. Seun also offers more than 10years of experience to the music recording industry. Once a fewer bands have been secured, it then becomes our marketing strategy to plug the bands as more than as possible. This will be done by leveraging all of their networking contacts.3.1 SALES STRATEGYThe CEO has an excellent customer relation and social skills these skills will be used in making customer/musicians convenient in trusting jazzy studio to produce and record music for them. Keeping customers happy, we feel, is an implicit part of building a relationship that will encourage business ontogeny.3.2 SERVICE BUSINESS ANALYSISAs a music recording company, it is our duty to offer customers the be st services, a professional atmosphere and comfortable environment. We also provide musicians/artist with promotional materials, such as fliers, posters and cd covers at a very reasonable price.As simple as it may be, our method of executing customer service has an important effect on the bottom line. Skillful use of frank communication will bring the business we desire.3.3 WEBSITE MARKETING STRATEGYOur online services will provide intending customers an opportunity to access more information about the organization, promos, recording hours and tutorial. The site will be linked to various frolic sites such as music sturvs, notjustok, and jaguda. Jazzy studio will also submit the site to several different search engines and give-up the ghostly, the URL shroud will be prominent on printed material and correspondence.4.0 FINANCIAL ANALYSISThe financial platform of any business is essential as it makes all the difference between organized activities and chaos (Maslauskaite and Koum pis 2011). A comprehensive business plan is useless if it does not contain a financial plan and projection for the future.The current financial plan for jazzy studio is to generate a business loan in the amount of 7million. The loan will be used to update and purchase new equipment and software, increase advertising and provide video recording services.The following sections of this plan will act to describe jazzy studios financial plan in more enlarge sales projectionBalance sheetProfit and lossBreak-even analysis4.1 SALES PROJECTION sales projection is a core in a business plan. Managers tend to measure a business growth by its sales and the sales forecast sets the standard for expense, profit and growth. Jazzy studios just 21 sessions a month. Studio sessions cost 7500/hour. Most sessions last for 3 hours thus each session totals 22,500.Each promotional design cost 10,000. Our goal is to design between 50-100 promotional designs a year.Our forecast for jazzy records total sal es in its first year is 3,150,000. During the years 2014-2016 we see a 30% annual increase.Table SALES PROJECTIONSales Forecast2013201420152016Unit salesAudio Production120 one hundred thirty-five161195Promotional design4591110165 supply Unit SalesUnit PricesAudio ProductionPromotional objectiveSalesAudio ProductionPromotional DesignTotal Sales165201322,50010,0002,700,000450,0003,150,000226201422,50010,0003,037,500910,0003,947,500271201525,50010,0004,105,5001,100,0005,205,500360201625,50010,0004,972,5001,650,0006,622,500Figure sales by year4.2 IMPORTANT ASSUMPTIONSThe table below shows the assumptions used in the financial calculation of this business plan.The average per-unit revenue cost is estimated to be 18,700. The average per-unit variable cost is estimated to be 500. The estimated monthly fixed cost is 100,000.Table General assumptionsGeneral Assumptions201220132014Current Interest rate10.00%10.00%10.00%Long term interest rate10.00%10.00%10.00% revenue enhancement rate15.00 %15.00%15.00%4.3 PROJECTED PROFIT AND LOSSThe net income for 2013, 2014, 2015 and 2016 is forecast to be 3,150,000, 3,947,500, 5,205,500, 6,622,500 respectively. The net profit for the same period is4.4 PROJECT BALANCE tatterThe table below illustrates the project balance sheet.TABLE Balance yellow journalismPro forma balance sheet2013201420152016ASSETSCurrent assetsCash7,005,0217,503,8718,012,7608,499,091 new(prenominal) current assetsTotal current assetLong term asset salt away depreciationTotal long term assetTotal assets3,121,02310,126,04400010,126,0443,121,02310,624,89400010,624,8943,121,02311,133,78300011,133,7833,121,02311,620,11400011,620,114LIABILITIES AND CAPITAL2013201420152016Current liabilitiesAccounts collectable56Current borrowing03291Other current liabilitiesSubtotal current liabilitiesLong term liabilitiesTotal liabilitiesPaid in ceilingRetained earningEarningsTotal capitalTotal liabilities and capitalNet worth03554435.0 tog out ANALYSISA SWOT analysis identifi es the internal and external factors that are either helpful or not and serves as a useful resources which may be incorporated into an organization strategic planning present (Chen and bruneski).The SWOT analysis aids in displaying the internal strengths and weaknesses that Jazzy studio must address. The SWOT analysis allows us to examine opportunities presented to Jazzy studio as well as possible potential threats. The companys strength which includes having 10 years of industry experience and knowledge, quality production and sound, excellent and shelter staff, essential equipment, high customer loyalty and good referral relationships as well as strong media relationship will help the company grow from strength to strength.5.0.1 STRENGTHS10 years of industry knowledgeEssential equipments voiceless media relationshipQuality production and soundCost advantages with new technology outgrowth customer base and customer loyalty within target group.Awesome website5.0.2 WEAKNESSESLack o f money to advertiseCost factor with property state-of-the-art hardwareNew entrantsLimited channels of distribution5.0.3 OPPORTUNITIESGrowing market with a significant of our target market still not knowing we exist.Strategic alliance offering source for referrals to extend our reach. development new technologies to cope with the driving force of the industryInternet through expanding e-commerce.Expanding nationwide5.0.4 THREATEmerging local competitors currently there are no recording studios in the area.Increase in price inputs can cause upward pricingChanges in regulations can impact the business5.1 LIMITING FACTORSThe limiting factors that control the organization process, such as growth, resources are as followsLack of constant electricityPiracy